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T
tpepper2000
March 22, 2023
Question

Where do I add WCB payments made on self employed

  • March 22, 2023
  • 1 reply
  • 0 views
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    1 reply

    J
    Jurisa1
    March 24, 2023

    Income from the Workers' Compensation Benefits (WCB) will be reported in Box 10 of the T5007 slip. Report the amount on line 14400 of your Income Tax and Benefit Return to calculate your eligibility for any other federal or provincial benefits. Since this income is not taxable, you will deduct it on line 25000.

     

    Click "Find" button on the upper right corner. Type "T5007 WCB, Social Assistance, and Federal Supplements", then click "Go".

    Select "Enter New T5007". Report the amount in Box 10 as mentioned. Then, click "Done with T5007".

     

    For more information, please see TurboTax webpage: Workers' Compensation Benefits and Your Taxes 

     

    Thank you for choosing TurboTax.

     

     

     

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